Voestalpine Trims Guidance Ceiling as Tariffs Hit Kindberg Workforce
Published on 11/11/2026 at 16:11 | Editorial boerse-global.de
Voestalpine has narrowed the upper end of its earnings outlook for fiscal 2026/27, cutting the projected EBITDA range to EUR 1.60–1.70bn from a prior EUR 1.60–1.85bn. The steelmaker blamed the ongoing war in the Middle East, higher energy and logistics costs, project delays and provisional additional US tariffs for the revision. The stock slipped 3.7% following the announcement, with the Erste Group analysts flagging the guidance cut as a drag on the share price.
The floor of the forecast, however, has been left untouched — and that is where investors are focusing their attention. Holding the minimum target at EUR 1.60bn despite the tougher environment signals a degree of confidence in the planning, while the lower ceiling suggests management now takes a more cautious view of the more favourable outcomes. Whether that floor proves durable against the named headwinds has become the central question for the equity story.
A stronger first half underpins the case
Operating momentum in the first six months of 2026/27 offers some ballast. EBITDA reached EUR 846m, a gain of 17.1% year on year, while revenue edged up 0.8% to EUR 7.7bn. EBIT came in at EUR 470m, up 36% — a markedly faster advance than the top line, pointing to progress on profitability. Media reports noted that the second quarter nonetheless fell short of expectations.
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Those results included positive and negative one-off effects totalling roughly EUR 100m, tied in particular to the sale of voestalpine BÖHLER Profil within the High Performance Metals division. Stripping those out, the quality of the underlying earnings — and how much of the improvement carries into the current quarter — will matter for how the reduced annual target is judged.
Tariffs bite at Kindberg
The trade-policy headwinds are already visible on the ground. Voestalpine Tubulars confirmed it will cut 150 jobs at its Kindberg site by the end of March 2027, with CEO Herbert Eibensteiner citing the tariffs as the direct cause. Additional US duties are weighing on sales of seamless steel tubes from the facility, according to media reports. A social plan is being drawn up with the works council and is due by the end of November.
Reuters also pointed to logistical bottlenecks from low water levels on the Danube, alongside the project delays in the energy business, as further pressures on the outlook. Should cost burdens and postponed projects intensify together, hitting the reduced guidance would become a steeper climb.
Voestalpine has scheduled publication of its third-quarter 2026/27 results for 10 February 2027.
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